Overview
- Employees across the U.S., India, Canada and Mexico reported identical termination notices Tuesday around 6 a.m., with access to systems cut the same morning.
- Oracle has not given a tally, though TD Cowen estimates 20,000–30,000 cuts, or about 18% of the 162,000 workforce, to free $8–$10 billion in cash.
- Posts from affected staff point to deep reductions in cloud teams such as Revenue and Health Sciences, SaaS and Virtual Operations Services, and NetSuite’s India Development Centre.
- Local outlets in India report up to 12,000 cuts there and describe offers of 15 days’ pay per year of service plus notice pay and other benefits, which the company has not confirmed.
- The reductions align with Oracle’s plan to fund AI data centers through large new borrowing, including a planned $45–$50 billion raise this year and reports of $58 billion in recent debt.